May 21, 2002
Independent Studies Validate District's Assessment Method
(Washington, DC) The District of Columbia Office of Tax and Revenue (OTR) released the results of two independent reviews conducted by respected and experienced experts in the field of mass appraisals. Conducted by Otho C.W. Fraher, CAE and Robert J. Gloudemans of the firm Almy, Gloudemans, Jacobs and Denne, the studies examined the way residential properties are assessed in the District. Findings concluded that the District's methodologies and assessment procedures met or surpassed industry standards. The reports also determined that OTR achieved an acceptable level of assessments among the more than 100,000 single-family and condominium properties reappraised during the District's return to annual assessments.
The Gloudemans' study concluded that, "Based on a thorough and objective analysis of all sales in the District since January 1999, OTR achieved an appropriate and acceptable level of assessment in the areas reappraised, and equity among taxpayers in these areas was substantially improved and also meets industry standards. RPA [Real Property Administration] did a very good job in bringing property values close to (but not over) market value and in improving equity among individual properties in the 2003 reassessment of areas 1 and 2."
The Otho Fraher study concluded that, "The assessment procedures currently employed by the Real Property Administration Division are acceptable and do not provide a reason to invalidate the current proposed assessed values. The appeals process is consistent with the appeals process recommended by the International Association of Assessing Officers (IAAO)."
"We have come a long way and we are working daily to improve our processes," said Deputy Chief Financial officer Herbert J. Huff. "There is no hidden agenda here. We are committed to improving the system to make it as accurate as possible for property owners. These findings validate that the methodologies in use by OTR are appropriate for the Real Property Assessment Process. This is an evolutionary process, and we will continue to build partnerships with property owners to assist us in correcting data for their properties. OTR is working daily to increase the amount of information available to the public on its website."
